Suppose that M = 300, P = 100, and Y = 6. Then the velocity of circulation equals Select one: a. 2.00. b. 3.00. c. 50 d. 0.50. e. 0.02.

a. 2.00.

Explanation:

The formula and the computation of the velocity of circulation are shown below:

According to the quantity money theory

M = Total money

V = Velocity

P = Price level

Y = Volume of goods and services

As we know that

Total amount of money in the economy × velocity = Price level × volume of goods and services

300 × velocity = 100 × 6

300 × velocity = 600

So, the velocity is

= 600 ÷ 300

= 2

Hence, the first option is correct

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.

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